Pursuit Minerals reckons its quadrupled resource commands attention from major miners. Pic: via Getty Images.
High Voltage: Junior confident of lithium outlook in Argentina despite sluggish market
Mining
share
- Pursuit Minerals confident of attracting major miner attention in Argentina
- Country has seen an increase in lithium activity since election of President Javier Milei
- Australia looking a bit sluggish in comparison
Our High Voltage column wraps all the news driving ASX stocks with exposure to lithium, cobalt, graphite, nickel, rare earths, and vanadium.
Even though the lithium price is in the trenches due to oversupply and slowing EV demand, there’s still plenty of moves happening in the sector this week.
For example, junior explorer Pursuit Minerals (ASX:PUR) made some solid steps on the pathway to becoming a commercial producer in one of the world’s top emerging lithium jurisdictions.
The company announced it has more than quadrupled its Argentine lithium resource at Rio Grande Sur 1.104Mt of contained lithium carbonate equivalent, grading 505.8mg/l Li with 591,800t LCE grading 515.1mg/l Li in the indicated category and 512,500t LCE grading 495.4mg/l Li in the inferred category.
This comes ahead of the start of a 250tpa pilot operation in Q1 2025 and has caught the eye of investors – and major miners – who’ve been following lithium news in Argentina since the election of its now President Javier Milei late last year led to dramatic reforms to the country’s resources sector.
During his campaign, Milei promised to free Argentines from the “oppression” of the state and presented sweeping reforms including steps to facilitate exports, end price controls and privatise companies in a bid to kick-start the process of economic de-regulation.
And Argentina’s mining and resources sector is amongst the beneficiaries with the provisions including customs and foreign exchange incentives to encourage investment in the country.
“This resource upgrade elevates Pursuit into a league that commands attention from major mining companies seeking significant lithium investments,” MD and CEO Aaron Revelle said.
“The scale of this resource opens the door to significant offtake discussions with several already underway.
“It’s clear this is no minor upgrade; it’s a transformational major resource with the potential to make a substantial impact on the supply chain. Pursuit continues to make progress at the lithium carbonate plant in Salta and anticipate first production of Lithium Carbonate in Q1 2025.”
Offtake discussions are continuing with the company fielding multiple requests for product samples from potential partners, Revelle said.
“We will further focus on commercial scale production scenarios looking to unlock value for commercial scale Lithium Carbonate production in the near term,” he said.
Argentina catches major miners’ attention
Both Rio Tinto (ASX:RIO) and BHP (ASX:BHP) have entered the Argentinian scene now, pouring in upwards of $13b to acquire lithium and copper assets this year at a time of weak pricing.
Rio recently announced a $10b deal to acquire Arcadium Lithium (ASX:LTM), a counter-cyclical investment that cemented the mining giant’s belief in lithium’s long term prospects, direct lithium extraction processing tech and Argentina’s status as an emerging mining jurisdiction.
Its top brass recently reiterated projections lithium demand would grow fivefold by 2035, with a decision on the up to 60,000tpa LCE Rincon development in Argentina due at the end of 2024.
It is a show of confidence in Argentina’s lithium scene, with Rio Grande Sur among a handful of large, high-grade resources not owned by the majors.
By way of comparison, the more advanced Argosy Minerals’ Rincon brine, where a 12,000tpa LCE project is due for FID in H2 2025, is smaller and runs at a lithium grade of just 329mg/l.
Enthusiasm in Argentina is quite the comparison when you look at recent moves in Australia’s lithium sector, where the WA state gov had to throw explorers and miners a life line amid ramp up concerns and blowouts at plants in WA’s south owned by lithium giants like Tianqi, IGO and Albemarle.
Since the start of this year we’ve seen Core Lithium (ASX:CXO) close its Finniss mine in the Northern Territory, Pilbara Minerals (ASX:PLS) announcing it would place its secondary Ngungaju plant at Pilgangoora on care and maintenance, Arcadium Lithium (ASX:LTM) planning to close its Mt Cattlin mine in 2025, and Mineral Resources (ASX:MIN) announcing a shut down of its Bald Hill mine, only acquired last year from the administrators of collapsed Alita Resources, placing 300 jobs on the line.
And last month, Greenbushes part-owner Albemarle announced plans to chop 6-7% of its global workforce, which comes after the company suspended work to construct two additional 25,000tpa lithium hydroxide trains at a plant near Bunbury in WA’s South West.
Battery Metals Winners and Losers
Here’s how a basket of ASX stocks with exposure to lithium, cobalt, graphite, nickel, rare earths, magnesium, manganese and vanadium is performing >>>
Code Company Price % Week % Month % Six Month % Year Market Cap XTC XTC Lithium Limited 0.2 19900% 19900% 19900% 0% $17,528,272 MHC Manhattan Corp Ltd 0.002 100% 0% 20% -40% $8,995,940 TKL Traka Resources 0.0015 50% 50% -25% -52% $2,918,488 PTR Petratherm Ltd 0.165 43% 200% 617% 230% $47,039,757 HRE Heavy Rare Earths 0.041 41% 5% 17% -52% $3,455,281 AQD Ausquest Limited 0.011 38% 38% -13% 3% $11,604,282 BYH Bryah Resources Ltd 0.004 33% -20% -50% -71% $2,013,147 SRN Surefire Rescs NL 0.004 33% -33% -56% -58% $7,945,231 HAS Hastings Tech Met 0.33 29% 16% 32% -52% $50,631,318 BC8 Black Cat Syndicate 0.72 26% 13% 125% 194% $393,060,542 AKN Auking Mining Ltd 0.005 25% 0% -76% -92% $1,956,751 AXN Alliance Nickel Ltd 0.046 24% 15% 5% -21% $33,388,622 DEV Devex Resources Ltd 0.13 24% -7% -69% -50% $57,419,787 KNI Kunikolimited 0.225 22% 41% 7% -12% $19,956,932 SUM Summitminerals 0.2 21% 8% 0% 74% $16,833,958 M24 Mamba Exploration 0.012 20% -14% -40% -63% $2,256,987 LMG Latrobe Magnesium 0.027 17% -4% -52% -52% $63,410,509 RBX Resource B 0.042 17% 20% 40% -51% $4,337,948 RGL Riversgold 0.0035 17% 0% -53% -75% $5,696,119 ODE Odessa Minerals Ltd 0.007 17% 17% 133% -22% $8,877,978 EUR European Lithium Ltd 0.03 15% -19% -40% -63% $41,943,679 PGD Peregrine Gold 0.15 15% -12% -48% -52% $9,842,371 VUL Vulcan Energy 7.16 15% 57% 49% 205% $1,392,595,425 NVA Nova Minerals Ltd 0.235 15% -13% -2% -6% $68,682,338 PEK Peak Rare Earths Ltd 0.12 14% -33% -50% -68% $36,767,431 PEK Peak Rare Earths Ltd 0.12 14% -33% -50% -68% $36,767,431 QEM QEM Limited 0.041 14% -27% -71% -77% $7,824,181 KAI Kairos Minerals Ltd 0.017 13% 0% 55% 10% $44,725,507 POS Poseidon Nick Ltd 0.0045 13% -10% -18% -71% $16,815,502 WMG Western Mines 0.195 11% -5% -55% -19% $16,604,460 QXR Qx Resources Limited 0.005 11% -17% -58% -83% $5,760,350 ASO Aston Minerals Ltd 0.01 11% 0% -41% -68% $12,950,643 CNB Carnaby Resource Ltd 0.41 11% -2% -47% -33% $61,897,409 AUZ Australian Mines Ltd 0.011 10% -15% 10% -21% $15,383,633 RMX Red Mount Min Ltd 0.011 10% 38% -27% -64% $3,873,578 WA1 Wa1Resourcesltd 15.92 10% 11% -22% 94% $1,086,838,205 VTM Victory Metals Ltd 0.405 9% 13% 50% 72% $43,943,599 IPX Iperionx Limited 4.41 9% 37% 101% 227% $1,339,477,089 CAE Cannindah Resources 0.048 9% 14% -11% -54% $32,341,678 TLG Talga Group Ltd 0.48 9% 20% -33% -51% $206,024,284 ARN Aldoro Resources 0.092 8% 12% 21% 10% $10,769,899 GL1 Globallith 0.205 8% -11% -47% -84% $52,117,577 BNR Bulletin Res Ltd 0.042 8% -7% -18% -74% $12,038,146 TMB Tambourahmetals 0.028 8% -20% -62% -79% $3,096,521 FTL Firetail Resources 0.081 7% -30% 74% -5% $26,831,086 PSC Prospect Res Ltd 0.1 6% 32% -49% 1% $57,172,375 NWM Norwest Minerals 0.019 6% -5% -49% -39% $9,217,271 A8G Australasian Metals 0.078 5% -29% -26% -55% $4,065,399 CMO Cosmometalslimited 0.02 5% 0% -52% -56% $2,619,857 ATM Aneka Tambang 0.905 5% 0% -16% -23% $1,121,138 REE Rarex Limited 0.0105 5% -13% -48% -68% $8,408,881 RAG Ragnar Metals Ltd 0.021 5% -9% 31% -9% $9,953,706 WIN WIN Metals 0.021 5% -52% -42% -83% $10,958,307 ANX Anax Metals Ltd 0.011 5% -8% -75% -61% $9,585,784 MHK Metalhawk. 0.2825 5% 66% 371% 49% $33,014,476 HXG Hexagon Energy 0.023 5% 0% 28% 156% $11,797,066 MEK Meeka Metals Limited 0.071 4% -11% 87% 97% $161,843,779 MAN Mandrake Res Ltd 0.025 4% -4% -26% -39% $15,681,498 ADV Ardiden Ltd 0.13 4% -4% -13% -41% $8,127,276 AVL Aust Vanadium Ltd 0.014 4% -13% -13% -39% $112,250,555 EV1 Evolutionenergy 0.029 4% -26% -55% -81% $10,456,447 EMH European Metals Hldg 0.15 3% -19% -62% -75% $31,116,706 SLM Solismineralsltd 0.09 3% -7% -18% -45% $7,348,519 EGR Ecograf Limited 0.0805 3% 1% -46% -53% $34,968,150 ITM Itech Minerals Ltd 0.069 3% -7% -10% -51% $11,780,742 DVP Develop Global Ltd 2 3% -18% -13% -33% $533,687,954 DYM Dynamicmetalslimited 0.205 3% 5% 21% 28% $7,380,000 AXE Archer Materials 0.3175 2% 44% -27% -22% $76,454,104 A11 Atlantic Lithium 0.225 2% -12% -49% -56% $151,595,629 ILU Iluka Resources 5.61 2% -4% -23% -18% $2,376,783,809 SRL Sunrise 0.245 2% -36% -57% -59% $21,654,600 ARR American Rare Earths 0.28 2% 4% 0% 75% $140,678,524 LTM Arcadium Lithium PLC 8.02 2% -3% 14% 0% $2,355,217,781 MTM MTM Critical Metals 0.068 1% -31% 45% 162% $23,660,777 S32 South32 Limited 3.75 1% 1% -3% 21% $17,048,052,821 STK Strickland Metals 0.081 1% 16% -26% -54% $178,800,594 PAM Pan Asia Metals 0.063 0% -2% -61% -57% $12,746,410 LOT Lotus Resources Ltd 0.24 0% -9% -47% -14% $495,917,386 RIL Redivium Limited 0.004 0% 0% 33% -50% $10,987,419 LPD Lepidico Ltd 0.002 0% 0% -33% -74% $12,883,778 MRD Mount Ridley Mines 0.001 0% 0% 0% -50% $7,784,883 RLC Reedy Lagoon Corp. 0.002 0% -33% -33% -71% $1,523,413 GBR Greatbould Resources 0.042 0% -21% -29% -25% $31,873,304 CLA Celsius Resource Ltd 0.01 0% -9% 0% -17% $26,995,757 MNS Magnis Energy Tech 0.042 0% 0% 0% -22% $50,378,922 ESR Estrella Res Ltd 0.016 0% 14% 256% 220% $30,416,617 SBR Sabre Resources 0.011 0% -15% -39% -71% $4,322,581 VRC Volt Resources Ltd 0.0035 0% -13% -30% -42% $12,476,034 NTU Northern Min Ltd 0.02 0% 0% -44% -43% $181,181,852 PGM Platina Resources 0.019 0% -24% -21% -24% $11,840,426 SGQ St George Min Ltd 0.025 0% 0% 39% -24% $27,213,511 PRL Province Resources 0.041 0% 0% 0% 0% $48,441,219 ADD Adavale Resource Ltd 0.0025 0% -17% -50% -69% $3,059,413 RXL Rox Resources 0.16 0% -16% -6% -5% $69,849,274 ALY Alchemy Resource Ltd 0.007 0% -13% 0% -30% $8,246,534 LEL Lithenergy 0.37 0% 0% -9% -32% $41,440,581 LML Lincoln Minerals 0.006 0% 0% -25% -14% $12,337,557 1MC Morella Corporation 0.029 0% -3% -42% -81% $8,789,569 MRC Mineral Commodities 0.026 0% 0% 0% -13% $25,596,288 PUR Pursuit Minerals 0.0025 0% -17% -38% -74% $9,088,500 LEG Legend Mining 0.011 0% -15% -31% -42% $32,004,249 MOH Moho Resources 0.005 0% -17% 25% -50% $3,369,864 AML Aeon Metals Ltd. 0.005 0% 0% -55% -55% $5,482,003 WKT Walkabout Resources 0.095 0% -2% -24% -32% $63,769,838 AR3 Austrare 0.105 0% 5% -9% -34% $15,863,666 VMC Venus Metals Cor Ltd 0.07 0% 13% -26% -30% $13,729,008 CNJ Conico Ltd 0.001 0% 0% 0% -80% $2,201,528 SLZ Sultan Resources Ltd 0.007 0% -42% -36% -56% $1,620,289 MLS Metals Australia 0.025 0% 19% 14% -29% $18,180,488 MQR Marquee Resource Ltd 0.014 0% -13% 8% -53% $5,412,997 MRR Minrex Resources Ltd 0.008 0% 0% -20% -58% $8,678,940 EVR Ev Resources Ltd 0.003 0% -18% -64% -69% $4,188,814 DTM Dart Mining NL 0.011 0% -15% -52% -25% $5,661,945 LSR Lodestar Minerals 0.001 0% 0% -38% -69% $3,372,329 CTN Catalina Resources 0.003 0% -14% 0% 0% $3,715,461 EMC Everest Metals Corp 0.125 0% -7% -11% 34% $23,285,389 WML Woomera Mining Ltd 0.002 0% 0% -50% -91% $4,333,180 KZR Kalamazoo Resources 0.085 0% -10% -19% -32% $16,905,549 KOR Korab Resources 0.008 0% 0% 60% -56% $2,936,400 OMH OM Holdings Limited 0.34 0% -12% -30% -27% $260,527,312 EMN Euromanganese 0.048 0% -30% -38% -52% $9,352,288 CRR Critical Resources 0.006 0% -25% -50% -77% $14,591,779 ENT Enterprise Metals 0.004 0% 0% -20% 33% $4,713,269 EMT Emetals Limited 0.005 0% 25% 0% -38% $4,250,000 AVW Avira Resources Ltd 0.001 0% 0% 0% -33% $2,938,790 CAI Calidus Resources 0.115 0% 0% -12% -34% $93,678,206 SRZ Stellar Resources 0.018 0% 0% -18% 100% $39,515,261 THR Thor Energy PLC 0.014 0% -7% -22% -53% $3,382,069 AZI Altamin Limited 0.028 0% -4% -21% -42% $16,086,081 CLZ Classic Min Ltd 0.001 0% 0% -80% -98% $1,544,026 OCN Oceanalithiumlimited 0.026 0% -11% -33% -78% $2,144,948 ETM Energy Transition 0.024 0% 9% -27% -38% $33,809,008 IDA Indiana Resources 0.105 0% 8% 38% 76% $66,766,484 M2R Miramar 0.005 0% -29% -52% -72% $1,984,116 WCN White Cliff Min Ltd 0.015 0% -32% -3% 25% $30,247,532 TAR Taruga Minerals 0.01 0% -17% 25% 0% $7,060,268 AOA Ausmon Resorces 0.002 0% 0% -20% -33% $2,117,999 KTA Krakatoa Resources 0.01 0% 11% -41% -80% $4,721,072 CDT Castle Minerals 0.002 0% -33% -60% -80% $3,345,628 CY5 Cygnus Metals Ltd 0.12 0% -17% 60% -14% $57,057,241 LLI Loyal Lithium Ltd 0.105 0% -19% -58% -72% $9,736,972 PBL Parabellumresources 0.05 0% 0% 19% -86% $3,115,000 OM1 Omnia Metals Group 0.078 0% 0% 0% 0% $4,550,568 LLL Leolithiumlimited 0.505 0% 0% 0% 0% $605,458,342 WSR Westar Resources 0.008 0% 0% -20% -69% $3,189,799 REC Rechargemetals 0.026 0% -40% -33% -76% $3,631,939 TMX Terrain Minerals 0.003 0% 0% -14% -25% $5,400,086 LM1 Leeuwin Metals Ltd 0.073 0% 0% 4% -68% $3,420,172 RON Roninresourcesltd 0.16 0% 23% 33% -22% $6,460,002 ASR Asra Minerals Ltd 0.003 0% -33% -57% -63% $6,756,339 PFE Panteraminerals 0.02 0% -29% -58% -65% $9,475,674 KM1 Kalimetalslimited 0.12 0% -27% -70% 0% $8,835,177 BHP BHP Group Limited 40.06 0% -5% -11% -14% $201,839,789,259 CHN Chalice Mining Ltd 1.3875 0% -28% -20% -6% $540,747,235 VHM Vhmlimited 0.385 -1% -11% -17% -41% $62,664,909 PLL Piedmont Lithium Inc 0.1825 -1% -1% -15% -57% $74,263,086 LYC Lynas Rare Earths 6.88 -1% -8% 3% 6% $6,421,513,931 CTM Centaurus Metals Ltd 0.4325 -2% -6% -16% -14% $216,065,028 ICL Iceni Gold 0.056 -2% 19% -19% -8% $15,257,265 BUX Buxton Resources Ltd 0.055 -2% -29% -45% -71% $12,225,536 IGO IGO Limited 4.87 -2% -8% -33% -42% $3,687,894,249 NIC Nickel Industries 0.8975 -2% -7% -4% 25% $3,817,930,793 BMM Balkanminingandmin 0.05 -2% -7% -11% -67% $4,302,026 INR Ioneer Ltd 0.205 -2% -25% -7% 37% $494,691,228 ZNC Zenith Minerals Ltd 0.041 -2% -18% -41% -74% $16,591,209 LIN Lindian Resources 0.1 -2% 4% -13% -41% $112,986,379 ABX ABX Group Limited 0.039 -3% -7% -24% -45% $9,751,572 KOB Kobaresourceslimited 0.075 -3% -35% -50% -5% $11,892,121 LTR Liontown Resources 0.7825 -3% -12% -42% -43% $1,880,352,255 RNU Renascor Res Ltd 0.066 -3% -10% -40% -51% $165,218,929 SYR Syrah Resources 0.2275 -3% -22% -53% -63% $238,025,106 SYR Syrah Resources 0.2275 -3% -22% -53% -63% $238,025,106 FG1 Flynngold 0.03 -3% 0% -9% -59% $7,839,494 BM8 Battery Age Minerals 0.09 -3% -10% -47% -60% $8,447,254 BCA Black Canyon Limited 0.058 -3% -12% -52% -59% $5,067,445 MIN Mineral Resources. 33.495 -4% -2% -55% -46% $6,597,129,536 E25 Element 25 Ltd 0.275 -4% -7% 4% -43% $61,575,472 MLX Metals X Limited 0.405 -4% -13% -11% 50% $358,654,325 BSX Blackstone Ltd 0.027 -4% -21% -51% -67% $15,935,787 GED Golden Deeps 0.026 -4% -16% -38% -51% $3,939,581 DLI Delta Lithium 0.1875 -4% -22% -35% -60% $132,560,232 ASL Andean Silver 0.985 -4% -32% 28% 338% $155,206,017 GAL Galileo Mining Ltd 0.12 -4% -23% -54% -59% $23,714,991 S2R S2 Resources 0.07 -4% -10% -44% -59% $32,605,775 LKE Lake Resources 0.045 -4% -32% -27% -70% $78,170,670 CWX Carawine Resources 0.11 -4% 13% 10% 0% $25,973,799 QPM QPM Energy Limited 0.043 -4% 8% 13% -19% $108,410,691 GW1 Greenwing Resources 0.041 -5% -36% -38% -64% $9,866,711 EG1 Evergreenlithium 0.081 -5% 7% -10% -54% $4,554,630 FBM Future Battery 0.02 -5% 5% -51% -74% $13,307,119 JMS Jupiter Mines. 0.1425 -5% -19% -55% -16% $284,273,271 LIT Livium Ltd 0.018 -5% -10% -31% -42% $23,662,688 PVT Pivotal Metals Ltd 0.009 -5% 13% -55% -55% $8,165,033 CMX Chemxmaterials 0.035 -5% -22% -22% -51% $4,644,804 COB Cobalt Blue Ltd 0.069 -5% -22% -26% -79% $28,728,283 NMT Neometals Ltd 0.085 -6% -11% -26% -62% $66,939,982 ASN Anson Resources Ltd 0.065 -6% -8% -50% -55% $90,002,458 PVW PVW Res Ltd 0.016 -6% -24% -38% -67% $3,182,476 KFM Kingfisher Mining 0.048 -6% -26% -28% -73% $2,578,320 L1M Lightning Minerals 0.077 -6% 35% -6% -50% $7,272,391 STM Sunstone Metals Ltd 0.007 -7% 0% -46% -56% $36,049,325 DRE Dreadnought Resources Ltd 0.014 -7% -13% -18% -56% $56,291,250 GRL Godolphin Resources 0.014 -7% -26% -50% -63% $4,426,957 ASM Ausstratmaterials 0.47 -7% -18% -53% -68% $85,220,229 CXO Core Lithium 0.092 -7% -16% -34% -72% $197,157,430 PNN Power Minerals Ltd 0.092 -7% -8% -34% -63% $10,588,503 SRI Sipa Resources Ltd 0.013 -7% -24% -19% -48% $2,966,056 TVN Tivan Limited 0.052 -7% 8% 4% -33% $95,247,212 VR8 Vanadium Resources 0.026 -7% -45% -51% -42% $14,628,255 ENV Enova Mining Limited 0.0065 -7% -19% -69% -28% $6,402,041 RAS Ragusa Minerals Ltd 0.013 -7% -13% -32% -70% $1,853,784 NVX Novonix Limited 0.715 -7% -11% -9% 3% $372,792,059 MEI Meteoric Resources 0.0925 -8% -12% -50% -56% $211,481,432 KGD Kula Gold Limited 0.006 -8% -14% -40% -82% $3,859,272 GCM Green Critical Min 0.006 -8% 140% 100% -40% $11,445,320 BUR Burleyminerals 0.06 -8% -34% -57% -61% $9,172,628 ARL Ardea Resources Ltd 0.35 -8% -19% -43% -23% $69,889,020 KNG Kingsland Minerals 0.17 -8% -6% -19% -38% $12,335,355 1AE Auroraenergymetals 0.056 -8% 14% -33% -33% $10,027,569 LRV Larvottoresources 0.5 -8% -28% 421% 417% $171,035,053 IPT Impact Minerals 0.011 -8% -15% -42% 0% $33,653,771 JRV Jervois Global Ltd 0.011 -8% -15% -31% -74% $32,433,165 G88 Golden Mile Res Ltd 0.011 -8% -35% -15% -48% $4,728,229 BOA Boadicea Resources 0.022 -8% -8% -8% -46% $2,713,763 SCN Scorpion Minerals 0.011 -8% -27% -48% -77% $4,504,018 EVG Evion Group NL 0.031 -9% 11% 24% -9% $10,755,859 FGR First Graphene Ltd 0.03 -9% -36% -46% -56% $18,759,706 HAW Hawthorn Resources 0.048 -9% -17% -31% -48% $16,080,749 NWC New World Resources 0.019 -10% -5% -53% -53% $56,805,634 ARU Arafura Rare Earths 0.1175 -10% -24% -41% -41% $295,719,443 WR1 Winsome Resources 0.46 -10% -16% -63% -58% $100,782,133 AZL Arizona Lithium Ltd 0.0135 -10% -21% -46% -68% $62,633,403 AX8 Accelerate Resources 0.009 -10% 0% -82% -78% $5,595,785 CRI Criticalim 0.009 -10% -25% -65% -10% $26,723,155 LU7 Lithium Universe Ltd 0.009 -10% -43% -50% -76% $6,801,347 WC8 Wildcat Resources 0.2425 -10% -31% -49% -71% $309,141,075 PAT Patriot Lithium 0.044 -10% 5% -47% -79% $4,553,140 RVT Richmond Vanadium 0.26 -10% -17% 8% -16% $22,414,030 PMT Patriotbatterymetals 0.245 -11% -37% -72% -77% $141,611,681 AGY Argosy Minerals Ltd 0.032 -11% -14% -75% -82% $46,589,470 CHR Charger Metals 0.072 -11% -5% -25% -73% $5,574,258 WC1 Westcobarmetals 0.016 -11% -24% -72% -74% $2,548,265 GT1 Greentechnology 0.06 -12% -33% -40% -84% $24,491,382 INF Infinity Lithium 0.029 -12% -31% -47% -74% $13,415,171 GRE Greentechmetals 0.085 -12% -29% -63% -84% $7,061,798 AAJ Aruma Resources Ltd 0.014 -13% -18% -33% -56% $3,108,814 SMX Strata Minerals 0.021 -13% -19% -5% -63% $4,007,119 IMI Infinitymining 0.014 -13% -50% -69% -88% $4,802,102 FRB Firebird Metals 0.105 -13% -5% -48% -34% $15,659,754 LPM Lithium Plus 0.105 -13% -34% 5% -77% $13,948,200 BKT Black Rock Mining 0.04 -13% -17% -37% -60% $46,325,798 FRS Forrestaniaresources 0.013 -13% -7% -32% -57% $2,827,818 LNR Lanthanein Resources 0.003 -14% -25% -33% -57% $7,330,908 DM1 Desert Metals 0.024 -14% -31% 4% -38% $4,777,662 LNR Lanthanein Resources 0.003 -14% -25% -33% -57% $7,330,908 PNT Panthermetalsltd 0.017 -15% -54% -49% -57% $4,236,275 LRS Latin Resources Ltd 0.165 -15% -11% -34% -11% $462,234,211 VML Vital Metals Limited 0.0025 -17% 25% -38% -75% $11,790,134 TEM Tempest Minerals 0.005 -17% -17% -48% -35% $3,136,349 FIN FIN Resources Ltd 0.005 -17% -29% -58% -81% $3,246,344 PLS Pilbara Min Ltd 2.395 -17% -13% -39% -33% $7,318,051,760 TOR Torque Met 0.043 -17% -43% -80% -76% $10,735,549 AS2 Askarimetalslimited 0.014 -18% -53% -75% -93% $2,149,015 AM7 Arcadia Minerals 0.023 -18% -41% -68% -73% $2,692,152 SYA Sayona Mining Ltd 0.031 -18% -6% -30% -55% $369,385,472 EMS Eastern Metals 0.013 -19% -38% -65% -59% $1,477,791 GLN Galan Lithium Ltd 0.12 -20% -33% -45% -80% $91,736,751 GSM Golden State Mining 0.008 -20% -27% -27% -53% $2,234,965 LCY Legacy Iron Ore 0.01 -20% -20% -26% -35% $97,620,426 IG6 Internationalgraphit 0.052 -21% -9% -53% -71% $10,065,033 IXR Ionic Rare Earths 0.007 -22% -22% -46% -65% $29,218,576 EFEDA Eastern Resources 0.031 -23% -11% -48% -69% $3,974,229 NC1 Nicoresourceslimited 0.098 -25% -7% -35% -67% $10,726,156 YAR Yari Minerals Ltd 0.003 -25% 0% -40% -81% $1,447,073 TKM Trek Metals Ltd 0.02 -26% -31% -55% -57% $10,277,457 RR1 Reach Resources Ltd 0.008 -27% -27% -43% -65% $6,995,451 RR1 Reach Resources Ltd 0.008 -27% -27% -43% -65% $6,995,451 OD6 Od6Metalsltd 0.032 -29% 10% -49% -83% $4,118,086 TON Triton Min Ltd 0.007 -30% -30% -42% -70% $12,547,110 JLL Jindalee Lithium Ltd 0.23 -31% -2% -59% -75% $16,926,125 CZN Corazon Ltd 0.002 -50% -60% -78% -90% $1,535,811
Other Weekly Small Cap Standouts
The company says analysis of RC drill samples from its Mount Vernon project – part of its Bangemall nickel-copper-cobalt-platinum group elements projects in WA – have confirmed the presence of nickel and copper sulphides.
The project is part of a geological province in WA’s Gascoyne region that is the same age as the Giles Complex which hosts the large Nebo and Babel Ni-Cu deposits in the West Musgrave region.
Bangemall has been identified by the Geological Survey of Western Australia, Geoscience Australia and the CSIRO as having high prospectivity for mineralisation associated with the Kulkatharra Dolerite sills – a feature that reads like the giant Norilsk Ni-Cu-PGE deposits in Russia.
This is the first time nickel and copper sulphides have been confirmed within the Kulkatharra Dolerite.
While no firm conclusions could be made about potential zoning due to limitations in the resolution of the micro-XRF analysis, the company says the new data indicates the potential for deposits where these nickel-copper sulphides could accumulate.
The company has snagged approval of its shares to trade on the over the counter market (OTCQB) in the United States, opening access to North American capital and liquidity.
The company has been advancing a technology known as flash joule heating with Rice University in Texas, and has been moving strongly since the announcement last week of restrictions on Chinese exports to the US of gallium, germanium and antimony.
The former two are among the metals MTM is looking to produce from scrap in a partnership with Indium Corporation leveraging its FJH tech.
MTM MD Michael Walshe said:
“This milestone reflects our dedication to broadening MTM’s global reach and investor base. The OTCQB listing not only enhances accessibility for US investors but also underscores our dedication to advancing sustainable technologies like FJH.
“These innovations are crucial to onshoring critical material supply chains, enabling the efficient extraction of metals from unconventional waste streams.
“By fostering greater national autonomy and sovereignty in critical supply chains, this aligns with US priorities, especially in light of China’s recent export ban on gallium and germanium.
“These strategic metals are indispensable for key technologies, including semiconductors and military defence systems.
“Listing on the OTCQB will greatly improve access for US-based investors to trade MTM shares, aligning with the ongoing progress of our FJH development program.
“Additionally, we anticipate that dual trading on the OTCQB will help diversify our shareholder base and broaden exposure to a wider pool of investors.”
The company has been moving on surface sampling at the Kameelburg niobium project in Namibia, with investors hoping it will deliver a major niobium discovery – and now Aldoro has confirmed that niobium mineralisation exists across 220 metres of line 3 at an average grade of 0.70% Nb₂O₅.
The commodity, largely used in high-strength and lightweight steel alloys, is highly concentrated, with one mine in Brazil’s Araxa locale owned by CBMM responsible for over 80% of global mined production.
Just last week the company reported a 262m line of samples averaging over 0.5% Nb2O5 including 94m with samples averaging 0.93% Nb2O5.
A critical diamond drilling program is ongoing, so stay tuned for more news on that front.
Green Critical Minerals (ASX:GCM)
Green Critical Minerals is well on the way to constructing a pilot plant in NSW to commercialise its VHD tech, where graphite blocks will be produced for the computing sector and solar thermal energy storage systems.
The company acquired the tech back in October, drawn by its ability to convert graphite into very high-density graphite blocks that have among the highest thermal conductivity ever recorded for any bulk material – up to 617 W/m·K along the grain – and the lowest electrical resistivity (of 1.2 µΩ·m) ever measured for any bulk graphite product.
Notable applications include materials for the defence and nuclear industries, thermal energy storage systems, high-performance electronics, battery electrodes, heat sinks and aerospace.
This pilot plant has been designed to support the parallel development of heat sinks and solar-thermal blocks.
Smaller VHD blocks will be produced, designed specifically for heat sinks in the high-performance computing sector – for example for gaming computers, super computers and AI data centres.
The larger VHD blocks are tailored for solar-thermal energy storage systems, a market with growing demand for innovative solutions to decarbonise power generation and industrial processes.
The company says these blocks are critical components for thermal energy storage (TES) in utility-scale renewable energy projects, providing a sustainable alternative to fossil fuels.
Construction has commenced, with receipt of all critical equipment required, with the plant on track for commissioning in Q3 FY25.
M2R, MTN, ARN and GCM share prices today:
At Stockhead, we tell it like it is. While Miramar Resources, Green Critical Minerals and Pursuit Minerals are Stockhead advertisers, they did not sponsor this article.
